Trading with $0 commissions -- "Robinhood"

I wish they'd become a real broker because as of now they're just a platform for kids to play around on, Android only? really?
I can't see any portfolio margin opportunities, speaking of margin, they admitted to having plans to raise margin rates (not sure what they are now).

If they offered a decent API and IB-like functionality, I'd be the first person to switch.
I paid $148 today for just one equity trade, I consider this to be an insane amount of money and I'm definitely looking for alternatives.
 
No Bid/Ask spread displayed either. You have to go on faith and trust that the trade was executed within inclusive of the B/A spread.
 
d08 said:
I wish they'd become a real broker because as of now they're just a platform for kids to play around on, Android only? really?
I can't see any portfolio margin opportunities, speaking of margin, they admitted to having plans to raise margin rates (not sure what they are now).

If they offered a decent API and IB-like functionality, I'd be the first person to switch.
I paid $148 today for just one equity trade, I consider this to be an insane amount of money and I'm definitely looking for alternatives.
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sounds like you bought/sold a boatload of options (?)....the brokerage, eoption, trading with limits, makes some option traders happy;
some keep minimal $ in a brokerage with platform they love, then place bulk of trades at cheaper broker with limits; MB pretty good for options too, imo

i think eoption has the lowest prices
 
I don't trade options. My point is that IB's per share pricing isn't cheap at all, it's only cheap if you're a small-timer. I'm starting to think everyone who does any size with IB has completely different commissions that aren't listed anywhere on their website. It's unnerving that there isn't any real competition in the retail trading brokerage field.
 
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d08 said:
I don't trade options. My point is that IB's per share pricing isn't cheap at all, it's only cheap if you're a small-timer. I'm starting to think everyone who does any size with IB has completely different commissions that aren't listed anywhere on their website. It's unnerving that there isn't any real competition in the retail trading brokerage field.
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Ok, now I get it. Call or message IB and find out if you are on the wrong commission schedule. I think you can switch it any time you want to. Where's the ET IB guy?
Well, you could still go with MB ($4.95, unlimited shares) or Eoption ($3, unlimited). Even Scottrade will give you unlimited shares for $7.95. If you trade enough, it sounds like you would easily save a couple Gs/yr. by putting some/most your cash into another brokerage.
If you bought/sold a penny stock, which would surprise me, I am pretty sure there are deals out there that don't snatch 1/2%. Gotta look for them.
 
d08 said:
Android only? really?
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They were on iOS before Android, but yeah, smartphone only ATM I think you meant. They are working on a web platform as well, no timeline on when it's ready, just hinted at sometime 2016.
 
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